Counterpoint Mutual Funds LLC Acquires New Holdings in Asana, Inc. $ASAN

Counterpoint Mutual Funds LLC bought a new stake in Asana, Inc. (NYSE:ASAN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 92,371 shares of the company’s stock, valued at approximately $591,000.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Asana by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares in the last quarter. Empowered Funds LLC boosted its holdings in Asana by 40.9% in the first quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after purchasing an additional 7,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Asana by 14.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock worth $3,770,000 after buying an additional 32,708 shares during the last quarter. American Century Companies Inc. acquired a new position in Asana during the second quarter worth $158,000. Finally, Prudential Financial Inc. bought a new position in Asana during the second quarter valued at about $160,000. 26.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of the sale, the chief financial officer owned 778,628 shares in the company, valued at $5,185,662.48. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Mark Rogers sold 26,975 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $179,653.50. Following the completion of the sale, the chief executive officer directly owned 1,905,780 shares in the company, valued at $12,692,494.80. This trade represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 118,304 shares of company stock worth $792,775 over the last quarter. 61.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ASAN. Citigroup reaffirmed a “market outperform” rating on shares of Asana in a research report on Friday, May 29th. KeyCorp cut their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Piper Sandler restated a “neutral” rating and issued a $7.00 target price (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Wall Street Zen upgraded Asana from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $15.00 target price on shares of Asana in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.27.

Asana Price Performance

Shares of ASAN opened at $7.34 on Friday. The company has a market capitalization of $1.69 billion, a PE ratio of -10.64 and a beta of 0.97. Asana, Inc. has a one year low of $5.38 and a one year high of $15.71. The company’s fifty day moving average price is $6.94 and its 200 day moving average price is $8.36.

Asana (NYSE:ASAN) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Analysts anticipate that Asana, Inc. will post -0.4 earnings per share for the current year.

Asana Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.